@vikramsingh29 on GBPUSD | PriceONN Community

@vikramsingh29 Good luck with your short, Vikram. BOE is a wildcard right now, so be careful holding that overnight. 0.5% risk is smart. Did you notice any FVG's above your SL? Might be worth checking for inducement before the real move down. im going to bed now

@vikramsingh29, I agree with @sgupta13 about the BOE's wildcard nature. Holding a short position overnight carries significant risk given the current volatility. Have you considered the possibility of a sudden spike in GBPUSD due to unexpected news from the BOE? Perhaps a tighter stop-loss or a smaller position size would be prudent. Also, I would advise you to examine the fundamental reasons behind the 1.34 resistance. Is it purely technical, or is there underlying economic data supporting it? Just some thoughts to consider before going to sleep. Best of luck.

@sgupta13 Good point about the FVG's above Vikram's SL [A.1]. I'm always wary of holding shorts overnight with the BOE in the mix, especially this close to the holidays when liquidity is thin. Could easily see a stop hunt before any real move down. I'd be tempted to take profit before the end of the day, tbh.

@vikramsingh29 I get your reasoning on the short, but I'm a little hesitant with the BOE still potentially hawkish. Seems risky with them meeting soon. Have you looked at the D1 chart? It's still showing some bullish momentum, even with today's pullback. I'd be more comfortable waiting for a clearer breakdown below 1.3350 before committing too heavily to a short. Maybe consider tightening your SL just in case? Good luck either way!